Royal Bank of Canada Reiterates C$33.00 Price Target for First Quantum Minerals (TSE:FM)

Royal Bank of Canada set a C$33.00 price objective on First Quantum Minerals (TSE:FM) in a research report released on Wednesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group reaffirmed a buy rating and set a C$40.00 price target on shares of First Quantum Minerals in a research note on Wednesday, October 6th. Canaccord Genuity Group increased their price objective on shares of First Quantum Minerals from C$35.00 to C$37.00 in a research report on Monday, January 10th. BMO Capital Markets increased their price objective on shares of First Quantum Minerals from C$32.50 to C$35.00 in a research report on Thursday, November 18th. JPMorgan Chase & Co. upgraded shares of First Quantum Minerals to a buy rating and set a C$36.00 price objective for the company in a research report on Monday, December 13th. Finally, Bank of America cut shares of First Quantum Minerals from a buy rating to a neutral rating and decreased their price objective for the stock from C$40.00 to C$24.50 in a research report on Wednesday, September 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, First Quantum Minerals has an average rating of Buy and a consensus price target of C$35.15.

Shares of TSE:FM opened at C$34.71 on Wednesday. The company has a market cap of C$23.99 billion and a price-to-earnings ratio of 31.67. The company has a debt-to-equity ratio of 86.85, a current ratio of 1.89 and a quick ratio of 1.14. The firm has a 50 day simple moving average of C$29.17 and a 200 day simple moving average of C$27.11. First Quantum Minerals has a one year low of C$19.21 and a one year high of C$36.25.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings data on Tuesday, October 26th. The company reported C$0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.33 by C$0.04. The company had revenue of C$2.27 billion during the quarter, compared to the consensus estimate of C$2.28 billion. As a group, analysts expect that First Quantum Minerals will post 3.0099999 EPS for the current year.

In related news, Senior Officer Zenon Wozniak sold 11,671 shares of the firm’s stock in a transaction dated Friday, October 29th. The shares were sold at an average price of C$28.30, for a total transaction of C$330,289.30. Following the transaction, the insider now directly owns 16,421 shares of the company’s stock, valued at C$464,714.30.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, gold, silver, and zinc ores, as well as produces acid. The company holds 100% interests in the Ravensthorpe nickel and cobalt mine in Australia; the Sentinel copper project in North Western Province of Zambia; the Las Cruces copper mine in Spain; the Guelb Moghrein copper-gold mine in Mauritania; the Pyhäsalmi copper, pyrite, zinc mine in Finland; and the Ãayeli copper-zinc mine in Turkey.

Further Reading: Leveraged Buyout (LBO)

Analyst Recommendations for First Quantum Minerals (TSE:FM)

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